Technical analysis of forex euro dollar (EUR / USD) as of today 16/12/2016
Short-term growth of European currency was caused by a positive report on business activity in the manufacturing sector in Germany, the results of which exceeded growth forecasts. Those, however, the US currency continues to hold position against the background of a rate hike. Note that today investors will have inflation rates of the eurozone in November, which is expected to see no change.
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Euro Dollar current situation
Euro ignored oversold on the daily trades and continued its decline against the strengthening of the US dollar.Price did not stay near the mark of 1.0500 during the Asian session on Thursday. The pair came under pressure after the opening of the European trading declined. Sellers struck level of 1.0500 and tested 1.0450 in the middle of the European session. The EUR / USD has accelerated its decline, breaking the mark 1.0450 and tested the 1.0400 mark before the opening of the US session. On the 4-hour chart, the price rebounded from the 50-EMA in downward direction. Euro moved away from the moving averages, which are directed downward. Resistance is at 1.0450, support - at 1.0400.
The MACD histogram has decreased, which indicates the position gain sellers. The RSI was held near the oversold zone, meaning reduced.
Forecast EUR / USD on 12.16.2016
At the 4-hour chart, the price has kept the bearish sentiment. The most likely scenario is considered to be a further decline to 1.0400 and 1.0350 marks.
Technical analysis and forecast for the pound dollar (GBP / USD) as of today 16/12/2016
Despite the fact that Britain has published a report on sales in the retail sector, in line with expectations, the pound sterling continued to decline under the pressure of the US dollar. As for the Bank of England meeting, the representatives of the regulator unanimously decided to maintain the monetary policy at the same level.
At the auction on Thursday was dominated by bearish sentiment. Sellers continued gaining ground after a short break in the area of 1.2500. The new wave of pressure on the part of the sales helped to break this level and the uptrend line in the middle of the European session. The couple came out of the ascending channel and fell in the area of 1.2400 before the opening of the US session. On the 4-hour chart, the price has broken through the 50 EMA and the 100 EMA in the downstream direction and tested the 200 EMA in the middle of the European session. 100 EMA and the 200 EMA retained a bullish bias, while the 50-EMA turned down. Resistance is located at 1.2500, support - at 1.2400.
MACD entered the negative zone. If the MACD will remain in the negative zone, sellers position strengthened. RSI remains in the oversold zone.
Forecast GBP / USD 16.12.2016
While the pound remains below 1.2500, the bearish sentiment will remain. If the price consolidates below the resistance 1.2500, pair GBP / USD may continue to decline in the short term. Potential Target vendors is the level of 1.2400. Forecast GBP / USD 16.12.2016 While the pound remains below 1.2500, the bearish sentiment will remain. If the price consolidates below the resistance 1.2500, pair GBP / USD may continue to decline in the short term. Potential Target vendors is the level of 1.2400. Forecast GBP / USD 16.12.2016 While the pound remains below 1.2500, the bearish sentiment will remain. If the price consolidates below the resistance 1.2500, pair GBP / USD may continue to decline in the short term. Potential Target vendors is the level of 1.2400.
Technical analyst, and the forecast for the Dollar Yen (USD / JPY) on 12/16/2016
The US currency on Thursday has risen above the maximum 10-month high against the Japanese currency. Yen retreats to the dollar, as the US Federal Reserve raised the rate to 0.25%.
USD / JPY pair kept the mood to buy at auction Thursday. Buyers are able to rise above the level of 117.00, having confirmed 4-week uptrend. After a brief hesitation in early trading bulls raised the price and struck 118.00 mark in the middle of the European session. In the afternoon, the buyers tried to consolidate above this level.The price has continued to trade significantly above the moving average on the 4-hour chart. Resistance is located at 118.00 and 117.00 support area.
The MACD histogram has increased, which indicates the strengthening of customer positions. The RSI indicator remained in the overbought zone.
Forecast USD / JPY 16/12/2016
Break up the level of 118.00 points to the continued relevance of the medium-term uptrend. In the case of consolidation above $ 118.00, the next target will be the level of 119.00.
Technical analysis and forecast gold (XAU / USD) on 12/16/2016
Yesterday the price of gold fell to a minimum of 10 months against a background of increasing demand for the dollar after the Fed raising rates. In addition, the regulator expects a strong growth rate in the next year than previously forecast.
On Thursday, the bears continued to prevail in the market. After a break the next spurt of sales dropped precious metal to a new low. After the opening of the European session, XAU / USD pair dropped and tested the level of 1130 dollars per ounce. During the North American trading session the price tried to punch him, but was unable to do so. On the 4-hour chart quotes metal located under the moving averages. The moving averages are pointing downwards. Resistance is located at 1140 and at 1130 dollars per ounce of support.
MACD has decreased, which confirms the strength of sellers. RSI is in the oversold zone.
Gold Forecast 16.12.2016
According to the technical indicators, the path is open to further reduce prices. If the sellers will be able to lower the price to 1130, it may continue to decline in 1120 and US $ 1110 per ounce.
Technical analysis and forecast of oil prices 16/12/2016
On Thursday, oil futures rose, restoring the position after a decline in the previous session amid rising dollar.Demand for the US currency was caused by the decision of the US central bank to tighten monetary policy.Today, the rally of "black gold" may continue after as investors learn about the number of drilling rigs from Baker Hughes.
The current situation of oil
prices for Brent crude oil ready to leave the ascending channel, where they were almost a month. Short-term recovery allowed the benchmark to rise to 54.50 area, where fresh interest in sales sent prices down. Prices for "black gold" fell sharply and tested the 52.50 mark at the beginning of the American session. The price rebounded from the 50-EMA on the 4-hour chart. 50 EMA became neutral, while 100 EMA and the 200 EMA retained a bullish bias. Resistance is located at 53.50 and support - to 52.50 dollars per barrel.
MACD entered the negative zone. If the MACD will remain in the negative zone, the position of sellers increase.RSI dropped.
Oil Forecast 16/12/2016
Now the market is dominated by sentiment only for sale. Break down the level of 53.50 will open the way to further downward movement in the area of 52.50.
* Analytical review of the broker of Fort the Financial Services , analyst Alexander Kofman